Sears Holdings Tuesday announced fourth quarter earnings of $430 million, more than doubling the $190 million figure from the same period last year. The performance outperformed analyst expectations for the parent company of Sears and Kmart.
However, the company said domestic comparable store sales had dropped 2.5 percent, and the home appliance and home electronics categories were listed as among those that decreased in sales for the quarter.
"We continued to make progress in improving our performance in the fourth quarter, as Kmart comparable store sales increased for the second straight quarter," interim CEO Bruce Johnson said as part of the announcement. Our improved performance is especially encouraging given the challenging economic environment, particularly related to big-ticket items."